Answer:
$20,000.
Explanation:
The adjusted basis value and fair market value are used to determine an asset's worth.
The adjusted basis value simply describes the amount a property owner has invested in his or her asset. It equals the cost of acquiring the property plus the cost of maintaining it.
Fair market value of a business or asset is the general calculation to determine the value of an asset if it were to be sold.
A casualty is a sudden, unexpected, or unusual loss or damage to one's property. Examples are: hurricane, fire, tornadoes, flood, storm, car accidents e.t.c.
In case of a casualty, where the property was totally destroyed, the adjusted basis value will be calculated or used as the owner's loss.
Therefore, in Ann's case, where her business drying cleaning machine was destroyed by fire, her loss is her adjusted basis value which is $20,000.
Answer:
b. problem-solution
Explanation:
Based on the information provided within the question it can be said that the organizational pattern that the speaker is using is a problem-solution pattern. This pattern focuses on stating a problem and providing solutions to solve that problem. Which is what the speaker is doing by indirectly stating that sales are low in the key markets and then proceeds to talk about ways of increasing sales in those areas.
Answer:
It is those who have a reasonable understanding of business and economic activities.
Explanation:
Financial information are produced for the information of the users in order to enhance their decision making ability.
In order to enhance understandability of the users, financial information should include all the necessary disclosures and be presented in a clear terms such that those who have a reasonable understanding of business and economic activities with little or no assistance f from a financial experts, can read and understand.
Question Continuation.
Which of the above should be accounted for in an internal service fund?
Answer:
Van used to transport supplies to all city departments on a cost reimbursement basis #65,00
Explanation:
An Internal Service Fund is a type of fund that is often used by the government for accounting purposes in tracking of goods and/or service that has been shifted between two or more departments on a cost reimbursement basis.
An example of an internal service fund is the (answer) above because it involves transporting supplies to all city DEPARTMENTS.
The keyword here is DEPARTMENT because that's the essence of an internal service fund.
Answer:
Yes
The order should be accepted as it will generate $3,300 as contribution
Explanation:
The relevant cost of the decision are the the contribution expected to be generated from the special order and any other avoidable fixed cost.
As it stands, there are no directly attributable fixed cost to product A. The allocated fixed cost of $90 is irrelevant to this decision. The cost will be incurred whether or not the special order is accept
Contribution from the order
=(50- 10-2-5) × 100 = $3300
The order should be accepted as it will generate $3,300 as contribution